American Furniture Manufacturing (“AFM”) was one of the country’s largest manufacturers of residential upholstered furniture focused exclusively on promotional price points.
AFM was a very rapidly growing business, having achieved $100 million in revenue in just four years. The company’s CEO/Founder was eager to diversify his personal wealth while partnering with a private equity firm who could help him professionalize the company’s systems and processes.
Investment Date: September 2001
Investment Status: Exited June 2004
Fund Equity Invested: $7.2 million
Process Type: Negotiated after introduction by a broker
Portfolio Team: James Donnelly, Calvin A. Neider